FSR Welcomes Progress on Tax Reform

Today’s announcement reflects Republican leaders have a unified purpose. They agree on key principles necessary to enact tax reform that will help jumpstart economic growth and create quality jobs for the American people.

FSR Welcomes Progress on Tax Reform

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FSR Welcomes Progress on Tax Reform

WASHINGTON – The Financial Services Roundtable (FSR) welcomed today’s joint statement from the White House and Congressional GOP Leadership that they are making significant progress to move tax reform forward this year.

“Today’s announcement reflects Republican leaders have a unified purpose. They agree on key principles necessary to enact tax reform that will help jumpstart economic growth and create quality jobs for the American people,” said FSR CEO Tim Pawlenty. “FSR looks forward to being a constructive partner as this process moves forward this fall.”

Last week, FSR sent a letter to Senate Finance Chairman Hatch outlining its support for the Committee’s work to improve the American tax system in ways that bolster economic growth and create opportunity for more individuals and businesses. In its letter, FSR also urged Congress to bear in mind the financial industry’s unique business model and not to impose industry-specific taxes that single out any sector for adverse treatment.

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The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

FSR is reviewing the tax proposal outlined this week to ensure it increases economic opportunity, creates more good-paying jobs, incentivizes workers to save for retirement, and helps more Americans access important financial products and services.

“This industry provides vitally important services to nearly every American – every day. Affordable access to financial services is key to growing the American economy and fueling the American dream.” -Tim Pawlenty, FSR CEO

Financial Services Roundtable is the leading advocacy organization for America’s financial services industry. For updates, sign up below ↓